UK Construction Market Report 2023
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Stay ahead of the curve and future-proof your business with Mintel’s UK Construction Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest trends and industry analysis. Get a 360° view of the UK construction market including market size, segmentation and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
The UK construction market demonstrated strong growth in 2021, and this growth has further accelerated in 2022. Mintel’s industry experts forecast a difficult 2023 as economic uncertainty impacts the construction sector. However, when economic conditions return to normal, improved business confidence will drive growth.
The housing market is highly important to the total construction market. This market is far more exposed to consumer confidence, so is the most vulnerable to the ongoing cost-of-living crisis. Consumer spending power will be curbed and this will impact the housing construction and RMI markets.
In the short term, the industry as a whole continues to face supply chain issues and skills shortages. One of the biggest long-term challenges to the construction sector is its role in helping meet the government’s net zero targets set for 2050.
Barratt Developments, Galliford Try, Kier Group, Morgan Sindall Group, Persimmon, Taylor Wimpey.
To learn how to connect with your audience, purchase our full UK Construction Market Report 2023. Discover lucrative innovation opportunities to help your business grow during times of financial uncertainty.
This report, written by Terry Leggett, a leading industrial analyst, delivers in-depth commentary and analysis to highlight current trends in the UK construction market and add expert context to the numbers.
The construction sector regularly exaggerates GDP changes, and with recent substantial macroeconomic movements relating to Brexit, the pandemic and now inflation/higher interest rates, market movements have been significant as have supply chain and skill availability issues. It also serves vastly different sectors of the economy, all of which have very different reactions to the economic changes and display different structural considerations. Importantly, construction has a high reliance on business and consumer confidence levels, which is why large elements of the sector can be volatile. The industry now also faces significant challenges with propelling the UK towards net zero targets by 2050. Given that 85% of the building stock that will exist in 2050 has already been built, there are major retrofit and improvement opportunities arising.
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Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.